September 8, 2015
Posted January 28, 2016
Financial publishing company Bankrate Inc. agreed to pay a $15 million penalty to settle accounting fraud charges. The SEC alleged that Bankrate’s then-CFO, Director of Accounting, and Vice President of Finance, engaged in a scheme to fabricate revenues and avoid booking certain expenses to meet analyst expectations for its adjusted earnings before interest, taxes, depreciation, and amortization, a key financial metric known as “EBITDA.” The SEC charged the three former executives as well. SEC
Tagged in: Accounting Fraud, Securities Fraud,